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Missouri man facing wire fraud charges

When it comes to criminal charges, many St. Louis may think things are black and white. In reality, cases are not always that neat, as allegations involving complex schemes can be brought against individuals, particularly in cases involving white collar crime.

Take, for instance, the recent allegations against a Missouri man for a fraudulent scheme involving investors. The man is alleged to have operated a financial company, while also working as a sales agent for another company, where he located individuals to provide loans for life insurance policies. The man received commissions for his ability to find investors. However, the man allegedly defrauded the investors out of millions of dollars through the investments, while obtaining over $570,000 in commissions.

The investigation against the man led to an indictment by a federal grand jury on three counts of wire

fraud. The felony charges carry a maximum sentence of 30 years in prison, as well as fines of up to $1 million.

The case above illustrates how severe the penalties may be against those charged with wire fraud. Wire fraud is like other types of fraud, except it can be a federal crime like in cases above where interstate wire communications are used, like telephone calls or electronic communications. Federal charges, as a general matter, often carry more severe potential sentences than state charges.

Accordingly, even though the allegations may be somewhat confusing to sift through, individuals who are facing charges of wire fraud need to understand the charges well in order to formulate a strong defense. Prosecutors must prove each element of the charges beyond a reasonable doubt, and therefore even a weakness in one of the elements can present a strong defense to the charges.

Source: Fay Observer, "Raeford man charged with insurance fraud," June 11, 2014

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